Terreno Resources Corp. Announces $1.5 Million Private Placement
15 Juillet 2011 - 10:00PM
Marketwired
Terreno Resources Corp. ("Terreno" or the "Company") (TSX VENTURE:
TNO) reports that the Company has arranged a non-brokered private
placement (the "Offering") of up to 10,000,000 units (each a
"Unit") at a price of $0.15 per Unit to raise aggregate proceeds of
$1,500,000. Each Unit is comprised of one common share and one half
share purchase warrant. Each full purchase warrant (a "Warrant")
entitles the holder to acquire one additional common share for a
period of two years at a price of $0.25.
A finder's fee of 7% of the proceeds placed payable in cash and
7% of the Units placed payable in Warrants is payable on portions
of the placement to registered agents/brokers.
Proceeds of the placement will be applied to the Company's gold,
copper and silver projects in Argentina, the phosphate and potash
projects in Brazil (subject to closing the transaction detailed in
a press release dated April 20, 2011) in addition to general
working capital.
It is currently anticipated that subscribers to the Offering
will include insiders and/or control persons of Terreno or their
affiliates.
The Offering is subject to the approval of the TSX Venture
Exchange and all securities issued will be subject to a standard
four-month hold period.
About Terreno Resources
Terreno, meaning "of the earth" in Spanish, represents the
Company's focus on natural resource opportunity development in
South America. Terreno has option agreements on three exploration
projects in Argentina; La Poposa (formerly referred to as Amarillo)
in San Juan, Socompa and Trigal in Salta. All three projects boast
significant alteration systems and have the potential for copper,
gold and silver mineralization. For more information, please visit
www.terrenoresources.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Terreno Resources Corp. Philip Williams, CFA President
and CEO 416.643.7631 info@terrenoresources.com
www.terrenoresources.com
Terreno Resources Corp. (TSXV:TNO)
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